Keysight Technologies Reports Second Quarter 2024 Results
Keysight Technologies (
KEYS), a California-based electronics equipment maker, has forecasted a third-quarter profit below estimates due to slow demand in the electronics industrial markets. Keysight (KEYS) expects the third-quarter profit to be between $1.30 and $1.36 per share, below analysts' estimate of $1.45 per share. The company reported a 10% decline in second-quarter revenue in its communications solutions segment, which accounted for 67% of its total revenue in 2023. Revenue in its electronic industrial solutions segment fell 17% in the second quarter, reflecting continued constraints in semiconductor and manufacturing-related customer spending.
Keysight (KEYS) earned $1.41 per share on an adjusted basis, compared with the LSEG estimate of $1.39 apiece. The company's second quarter financial summary showed revenue of $1.22 billion, compared to $1.39 billion in the second quarter of 2023. GAAP net income was $126 million, or $0.72 per share, compared to $283 million, or $1.58 per share, in the second quarter of 2023. Non-GAAP net income was $247 million, or $1.41 per share, compared to $380 million, or $2.12 per share in the second quarter of 2023. Cash flow from operations was $110 million, compared to $423 million last year, and free cash flow was $74 million, compared to $370 million in the second quarter of 2023.
Technical Outlook
Keysight (KEYS) stock is down 3.75% in Tuesday's Pre-market trading which is an indication of a trend reversal due to the overbought nature of the stock currently trading with a Relative Strength Index (RSI) of 68.23
KEYS), a California-based electronics equipment maker, has forecasted a third-quarter profit below estimates due to slow demand in the electronics industrial markets. Keysight (KEYS) expects the third-quarter profit to be between $1.30 and $1.36 per share, below analysts' estimate of $1.45 per share. The company reported a 10% decline in second-quarter revenue in its communications solutions segment, which accounted for 67% of its total revenue in 2023. Revenue in its electronic industrial solutions segment fell 17% in the second quarter, reflecting continued constraints in semiconductor and manufacturing-related customer spending.Keysight (
KEYS) earned $1.41 per share on an adjusted basis, compared with the LSEG estimate of $1.39 apiece. The company's second quarter financial summary showed revenue of $1.22 billion, compared to $1.39 billion in the second quarter of 2023. GAAP net income was $126 million, or $0.72 per share, compared to $283 million, or $1.58 per share, in the second quarter of 2023. Non-GAAP net income was $247 million, or $1.41 per share, compared to $380 million, or $2.12 per share in the second quarter of 2023. Cash flow from operations was $110 million, compared to $423 million last year, and free cash flow was $74 million, compared to $370 million in the second quarter of 2023.Technical Outlook
Keysight (
KEYS) stock is down 3.75% in Tuesday's Pre-market trading which is an indication of a trend reversal due to the overbought nature of the stock currently trading with a Relative Strength Index (RSI) of 68.23
⭐⭐⭐ Sign Up for Free ⭐⭐⭐
1) Download our Mobile App >> link-to.app/dexwirenews
2) Join our Telegram >> t.me/DEXWireNews
3) Sign Up for Text Alerts >>
dexwirenews.com/TEXT
4) Follow @DEXWireNews on Social Media
1) Download our Mobile App >> link-to.app/dexwirenews
2) Join our Telegram >> t.me/DEXWireNews
3) Sign Up for Text Alerts >>
dexwirenews.com/TEXT
4) Follow @DEXWireNews on Social Media
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.